People on Sheares Bridge in front of the two durians bidding farewell to LKY. It was a very wet day.

11/06/2007

The Singapore Magic Show

We need population growth to sustain and maintain our economic growth. For that we need our people to procreate profusely. But with the high cost of living, any average family thinking of having more than two children is doing themselves and their children in.
Not many Singaporeans can afford two children and many are keeping to one only. But the need for population growth is mandatory. We need growth, we need good economic numbers to justify high salaries and higher standard of living.
So where will all these lead us to when the average Singaporeans are dwindling in numbers and being replaced by foreigners? And what will be the fate of those average Singaporeans with more than 2 children? Will these children become a burden to themselves and to society when they stay at the fringe of all the wealth around them?

4 comments:

Anonymous
said...

Dont have the answers to that. What is certain will be sharp steep rise in prices of necessities when demand outstrips supply and eventual inflation when the place gets crowded. The low earners and less well-to-do families will be hit badly; of course "that can't be helped"...

> We need population growth to sustain and maintain our economic growth. <

Not true.

> Not many Singaporeans can afford two children and many are keeping to one only. <

Not true.

> But the need for population growth is mandatory. We need growth, we need good economic numbers to justify high salaries and higher standard of living. <

Absolutely not true.

You forget: ALL markets are DEMAND DRIVEN. Even if you have a population of 20, as long as they are capable 20, you can always outsource the work to meet the market.

It is NOT economic growth which you need. It is REVENUE and NET PROFITS. In fact, it is not always good to have high rates of economic growth—especially if that growth is fuelled by credit expansion instead of the investment of REAL savings.

For e.g. Australia has only 20 million people, and up until recently a stagnant, even ageing population. Yet its economy in real terms is larger than the aggregate economy of most ASEAN countries, which in total have many times more population, and even natural resources.

For years and years some "academics" (aka "educated fools" who can't earn decent money in the real world) have suggested that Australia needs to "address its ageing population". Yet, life went on, people got wealthier, as did the country, advancement continued.

The most important elements for economic success are retained earnings as kept as savings and investment into profitable ventures

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If you need work to be done, at a certain price level there will ALWAYS be someone to do the work for you—whether in your country or somewhere else.

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